https://sputniknews.in/20230505/sco-countries-agree-on-need-to-use-national-currencies-in-mutual-payments-1830575.html
SCO Countries Agree on Need to Use National Currencies in Mutual Payments
SCO Countries Agree on Need to Use National Currencies in Mutual Payments
Sputnik India
PANAJI, India (Sputnik) - The member states of the Shanghai Cooperation Organisation (SCO) have a clear understanding of the need to use national currencies in... 05.05.2023, Sputnik India
2023-05-05T15:11+0530
2023-05-05T15:11+0530
2023-05-16T00:16+0530
sergey lavrov
shanghai cooperation organisation (sco)
rupee-rouble trade
trade in national currencies
dedollarisation
goa
india
brics
business & economy
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"There is an understanding of the increasing use of national currencies in payments between SCO members," Lavrov told reporters on the sidelines of the SCO ministerial meeting in India. There are practices being developed by the Eurasian Development Bank, the Asian Bank for Reconstruction and Development and the new BRICS Development Bank that can be used for this purpose, the top Russian diplomat added.Push for DedollarisationPayments in national currencies among the SCO member states have been recently on the organisation's agenda.In December 2022, the SCO Interbank Consortium held a meeting in New Delhi, where the increase of national currencies in mutual settlements was discussed, among other things. In April 2023, SCO Secretary-General Zhang Ming urged member states to increase the share of national currencies in mutual payments.
https://sputniknews.in/20230412/rupee-trading-boosts-financial-inclusion-in-global-south-indian-diplomat-1519111.html
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sergey lavrov, shanghai cooperation organisation (sco), rupee-rouble trade, trade in national currencies, dedollarisation, goa, india, brics
sergey lavrov, shanghai cooperation organisation (sco), rupee-rouble trade, trade in national currencies, dedollarisation, goa, india, brics
SCO Countries Agree on Need to Use National Currencies in Mutual Payments
15:11 05.05.2023 (Updated: 00:16 16.05.2023) PANAJI, India (Sputnik) - The member states of the Shanghai Cooperation Organisation (SCO) have a clear understanding of the need to use national currencies in mutual payments more actively, Russian Foreign Minister Sergey Lavrov said on Friday.
"There is an understanding of the increasing use of national currencies in payments between SCO members," Lavrov told reporters on the sidelines of the SCO ministerial meeting in India.
There are practices being developed by the Eurasian Development Bank, the Asian Bank for Reconstruction and Development and the new BRICS Development Bank that can be used for this purpose, the top Russian diplomat added.
Payments in national currencies among the SCO member states have been recently on the organisation's agenda.
In December 2022, the SCO Interbank Consortium held a meeting in New Delhi, where the increase of national currencies in mutual settlements was discussed, among other things.
In April 2023, SCO Secretary-General Zhang Ming urged member states to increase the share of national currencies in mutual payments.
